In fact Nintendo does not own 49% as Rare Ltd owns 19% and the brothers own 51% so at most it could only own is 30% and I think after reading there site it’s more like 25% but Nintendo does have a buy out option on the company if it is sold! So Nintendo if they want could buy the company for under Microsoft as they have first offers on Rare but the fact it has gone this far would say Nintendo have already said no to them as it is likely the owners are going to move on after the company is sold.
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